Mondi Q3 Report 2023

 

In the third quarter of 2023 the challenging market conditions continued as expected in light of the ongoing weak macro-economic environment. Market demand has remained soft with lower average selling prices largely mitigated by lower input costs and tight fixed cost control. A muchreduced forestry fair value gain resulted in a lower underlying EBITDA of €261 million when compared to Q2 2023.

In Corrugated Packaging, containerboard prices were stable with our order books improving. Flexible Packaging saw further price and volume declines in kraft paper, which is traditionally
later cycle. Our converting network delivered a resilient performance. Uncoated Fine Paper pricing continued to decline in Europe on ongoing weakness in demand. Southern Africa markets remain stable. The forestry fair value gain, accounted for within uncoated fine paper, was €14 million in Q3 2023, significantly lower than Q2 2023 of €72 million.